Uptick in demand lifts crude palm oil futures 0.32%

Crude palm oil prices were trading up by 0.32 per cent to Rs 595.60 per 10 kgs in futures trading today as traders created fresh positions, supported by pick-up in demand at the spot market.
Besides, a firming trend in overseas markets fuelled the uptrend.
At the Multi Commodity Exchange, crude palm oil for delivery in March contract rose by Rs 1.90, or 0.32 per cent, to Rs 595.60 per 10 kgs in a business turnover of 242 lots.
Similarly, the oil for delivery in the current month went up by Re 1, or 0.17 per cent, to Rs 584.70 per 10 kgs in 179 lots.

Analysts said fresh positions created by participants on the back of rise in demand in the physical market against restricted supplies from producing regions influenced crude palm oil futures.